SP500 technical analysis and NASDAQ analysis for today April 5th using Elliott Wave Theory- We got our B wave bounce. Now we need to look for the start of the C wave down. The NQ did push over the .764 which could lead to higher.

SP500 technical analysis is telling us that the B wave hit the target box perfectly and now we should look for a C wave down starting at any time. Assuming they can hold below 4600 we would look for the C wave down to the 4483-4437 level on the SP500 with 4369 being our line in the sand.

NASDAQ analysis is telling us that its B wave pushed over the .764 at 15148. This means that more often than not they will challenge the highs. However, assuming they can hold here we would look for C down to 14583-14370 with 14370 being our line in the sand.

SP500 technical analysis and NASDAQ analysis using Elliott Wave Theory is also telling us that if the pivots can’t hold that is an indication of a failed move higher and we could see lower lows pretty quickly.